The participatory economy

the long version

'"This is a companion volume to Vanek's General Theory of Labor-Managed Market Economies (Cornell Univ. Pr., 1970). Here he handles the same theme in a simpler but broader way, describing how the growing influence of the workers leads to a gradual takeover of the management of producer's units, and the impact of this on society. Vanek . . . establishes the related conditions of political and economic determination and economic efficiency and then examines them in the four economic systems to be found today: systems where workers have real power (which he finds mainly in Yugoslavia), Western democracies, socialist command systems (Russia and its satellites), and the huge sphere of the less developed countries. A knowledge of simple economics is sufficient for understanding this well-organized and clearly written work." —Library Journal